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Australian shares retreat on weak miners, banks ahead of rate call
Australian shares snapped two straight sessions of gains to close lower on Monday, led by miners and financials, as investors braced for a rate hike that is expected to take borrowing costs to their highest level since 2008. The S&P/ASX 200 index ended down 0.6% at 8,856.50. The resources sub-index logged a 1.5% fall in its third consecutive session of losses, mirroring the recent weakness in copper prices. Investor appetite for the red metal, expected to benefit from tech-related infrastructure expansion, has been dented by worries that heavy spending on AI may not generate sufficient ret...
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